EUR/USD
Analysis:
The direction of the price trend of the European currency is set by the rising wave from February 20. It has a high potential and a pronounced impulse character. At the end of last week, the price broke through strong resistance. There are no signals of an imminent reversal on the chart yet.
Forecast:
After the breakout of a strong resistance level, the price needs to work out a correction to continue the rise. In the coming sessions, a flat mood of the movement is expected - most likely, "sideways". A break below the settlement support zone and a return to the main rate is expected at the end of the day or tomorrow.
Potential reversal zones
Resistance:
- 1.1430/1.1460
Support:
- 1.1350/1.1320
Recommendations:
Before the appearance of distinct reversal signals, long positions in the euro are recommended. In the coming day, it is wiser to refrain from trading deals. You should look for buy signals at the end of the upcoming correction.
AUD/USD
Analysis:
The Australian currency continues its decline. The last section of the wave counts from the beginning of January this year. Last Friday, the interim correction was completed. The price was pushed down by a strong support level.
Forecast:
The downward wave that started last week gave rise to a new section of the main trend. A corrective upswing is expected to form in the next trading sessions. Growth above the boundaries of the resistance zone is unlikely.
Potential reversal zones
Resistance:
- 0.6580/0.6610
Support:
- 0.6510/0.6480
Recommendations:
In a downward trend, sales of the instrument will be most effective. In the coming day, trading on the instrument market may be unprofitable. It is recommended to refrain from trading or reduce the lot as much as possible. Sell signals should be tracked in the resistance area.
GBP/JPY
Analysis:
The downward wave from December 13 continues to dominate the cross markets. At the end of last week, after the correction section, the wave lengthened downwards. Strong support is supported by quotes.
Forecast:
The upcoming price rise in the coming trading sessions will take an intermediate position at the beginning of a bearish zigzag. The flat nature of price fluctuations is expected, with a general upward vector. A return to the main rate is expected at the end of the day.
Potential reversal zones
Resistance:
- 135.20/135.50
Support:
- 134.10/133.80
Recommendations:
In the pair's market today, trading transactions are only possible with an in-session style. When buying, you should reduce the lot. It is recommended to look for the pair's sell signals in the area of the calculated resistance.
Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure and the dotted background shows the expected movements.
Note: The wave algorithm does not take into account the duration of the tool's movements in time!
